Originally Posted by
fuelie327
demand elasticity ? People fix their cars when they have to and can afford it , people maintain their cars when they can afford it. if they can afford to maintain their car obviously there economic state is pretty good.
Yes. Demand elasticity. The measure how how 'economy based' a certain good or service is. So what you're saying here is that vehicle maintenance is fairly elastic, but vehicle repair is fairly inelastic?
Then tell me, if people were to neglect maintenance as you say, because you say its fairly elastic, would their cars break more often, resulting in more vehicle repairs, which you just stated is fairly inelastic?
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